I think that's normal. Admin mode will elevate anything which is run in a button / hotkey etc., but not things that you double-click in the file display.
The Launch as Admin button below will let you select one or more exes and then launch them as admin. If the lister is in admin mode then it will happen without a UAC prompt; otherwise you'll get one prompt (per use of the button, regardless of how many exes are selected for launch).
(How to add example buttons to your toolbars and menus)
<?xml version="1.0"?>
<button backcol="none" display="both" textcol="none">
<label>Launch as Admin</label>
<tip>Launch the selected programs as Administrator</tip>
<icon1>#adminmode</icon1>
<function type="normal">
<instruction>@admin</instruction>
<instruction>{filepath$}</instruction>
</function>
</button>